Netflix co-founder Reed Hastings steps down as co-CEO but plans to stay on as executive chair; the company promotes COO Greg Peters to co-CEO with Ted Sarandos
Streaming company names new leadership as it looks to reset after ‘tough year’ in 2022 — Reed Hastings is stepping …
Financial Times Anna Nicolaou
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Discussion
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About Netflix
Reed Hastings
on x
Ted Sarandos and Greg Peters Are Now Co-CEOs of Netflix, With Reed Hastings as Executive Chairman
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@reedhastings
Reed Hastings
on x
Ted & Greg are now co-CEOs. After 15 years together we have a great shorthand & I'm so confident in their leadership. Twice the heart, double the ability to please members & accelerate growth. Proud to serve as Executive Chairman for many years to come https://about.netflix.com/.…
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@mbrandolph
Marc Randolph
on x
@reedhastings Working alongside you for those 7 hard years was the highlight of my 4 decades as an entrepreneur. I can't be prouder of what we accomplished . . . nor more appreciative of what I've learned form you. When you're ready to start the next one . . . you know where to f…
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@carnage4life
Dare Obasanjo
on x
The only FAANG company that is still founder-led is Meta. Definitely an end of an era in tech as a prior generation passes the torch. It's such a different vibe to work at a place run by the original founder versus when they hang around but not the CEO. https://www.ft.com/...
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@mattmday
Matt Day
on x
do we know for sure this isn't actually Ronan Farrow under deep cover? https://twitter.com/...
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@lucas_shaw
Lucas Shaw
on x
Here is @reedhastings on why he is stepping aside. He references @JeffBezos and @BillGates https://www.bloomberg.com/... https://twitter.com/...
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@jaredbkeller
Jared Keller
on x
Reed Hastings is stepping down as co-CEO of Netflix https://about.netflix.com/...
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@samro
Sam Ro
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“I'll be serving as Executive Chairman, a role that founders often take (Jeff Bezos, Bill Gates, etc.) after they pass the CEO baton to others.” https://twitter.com/...
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@dylanbyers
Dylan Byers
on x
Ted Sarandos and Greg Peters Are Now Co-CEOs of Netflix, With Reed Hastings as Executive Chairman ... official announcement: https://about.netflix.com/... https://twitter.com/...
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@epro
Emil Protalinski
on x
Investors believed in Reed Hastings above all else. He's the only thing that made Netflix's ad model palatable. And yet, $NFLX is up. I expect it will be in the red soon enough. https://twitter.com/...
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@pkafka
Peter Kafka
on x
New Netflix co-CEO Greg Peters on the company's earnings call: “There's no big strategy shifts or big culture shifts.” The question we won't have an answer to anytime soon: If Netflix does need to make a shift down the line, which of its three leaders is going to make that call? …
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@danprimack
Dan Primack
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.@elonmusk asks @reedhastings to lead Twitter?
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@sarafischer
Sara Fischer
on x
🚨 Major leadership shakeup @netflix —Co-founder Reed Hastings steps down as co-CEO to become exec chairman —Co-CEO Ted Sarandos joined by new co-CEO Greg Peters, currently Netflix COO —Bela Bajaria, Netflix head of global TV, will replace Peters as COO https://www.axios.com/...
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@loudmouthjulia
Julia Alexander
on x
The Bela/Scott positioning is more interesting to me than Greg, a man who has overseen a lot of the ad-tier and client work that Netflix is leaning into, as well as overseeing innovative expansion efforts like gaming, becoming co-CEO. Exciting call ahead. https://twitter.com/...
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@lexnfx
Alexei Oreskovic
on x
Reed Hastings signs off on his final $NFLX earnings call: “Overall, I'd say our first 25 years were good. And I'm super excited about Netflix's next 25 years being great under our broadened leadership team.” He noted that he's “heavily invested” in Netflix's continued success.
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@deadline
@deadline
on x
Newly minted Netflix Co-CEO Greg Peters and Ted Sarandos, who has held that title since 2020, say no major strategic shifts are in the immediate offing after Reed Hastings passed them the leadership baton https://deadline.com/...
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@mbrandolph
Marc Randolph
on x
Reed is stepping down as CEO of Netflix after a nearly 25 year run. In my 40+ years as an entrepreneur, my 7 years working side by side with Reed were the highlight. https://about.netflix.com/...
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@mattbelloni
Matthew Belloni
on x
LOL the Disney shade on Reed stepping down: “Our board has been discussing succession planning for many years...” https://about.netflix.com/...
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@alexweprin
Alex Weprin
on x
On the Netflix earnings call, Ted Sarandos suggests that the company will get into the free, ad-supported streaming space in the future. “We are open to all of these different models right now,” but adds that they have “a lot on their plate this year.” So... 2024?
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@lucas_shaw
Lucas Shaw
on x
Netflix posts a huge beat. It added 7.7M subs in the final quarter of the year. Shares are up a ton. https://www.bloomberg.com/...
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@franklinleonard
Franklin Leonard
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Reed Hastings transitions from Co-CEO to Executive Chairman of Netflix. https://about.netflix.com/...
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@brianstelter
Brian Stelter
on x
Big Netflix succession news: “Ted Sarandos and Greg Peters are now co-CEOs of Netflix, with Reed Hastings as Executive Chairman - completing our succession process.”
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@felixsalmon
Felix Salmon
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This is ludicrous, you can't have THREE people in charge of a company. (Any company with an “executive chairman” is a huge red flag.) Just pick one CEO, reporting to a non-executive board chair. https://www.wsj.com/...
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@bysarahkrouse
Sarah Krouse
on x
Netflix wrapped 2022 with a leadership transition and stronger than expected customer additions. It has an important year ahead as it tries to grow its ad business and limit password sharing https://www.wsj.com/... https://twitter.com/...
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@loudmouthjulia
Julia Alexander
on x
As Netflix shifts to focus on revenue over subs (total revenue is down compared to Q2 and Q3, but up just under 2% y/y), so should our focus on FCF. Really part of the equation here on FCF projections (min. $3B, about 2x that of 2022) and state of building up core content base. h…
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@lucas_shaw
Lucas Shaw
on x
It is worth remembering: Netflix just reported its single worst year of subscriber growth since 2011. Fourth quarter sales grew < 2% relative to a year ago. Profit missed forecasts. But...way ahead of expectations on subscriber growth. https://www.bloomberg.com/...